What’s Ahead for MKANGO RESOURCES LTD CMN SHS NPV (DI) After Reaching All-Time Low?

 What's Ahead for MKANGO RESOURCES LTD CMN SHS NPV (DI) After Reaching All Time Low?

The stock of MKANGO RESOURCES LTD CMN SHS NPV (DI) (LON:MKA) reached all time low today, Nov, 11 and still has GBX 2.48 target or 10.00% below today’s GBX 2.75 share price. This indicates more downside for the GBX company. This technical setup was reported by Barchart.com. If the GBX 2.48 PT is reached, the company will be worth GBX less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 12.00% or GBX 0.38 on November 11, hitting GBX 2.75. About 4.48 million shares traded hands or 276.47% up from the average. MKANGO RESOURCES LTD CMN SHS NPV (DI) (LON:MKA) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.

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